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Can Still E File 2011 Taxes

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Can Still E File 2011 Taxes

Can still e file 2011 taxes Publication 505 - Introductory Material Table of Contents IntroductionNonresident aliens. Can still e file 2011 taxes Ordering forms and publications. Can still e file 2011 taxes Tax questions. Can still e file 2011 taxes What's New for 2014 Reminders Introduction The federal income tax is a pay-as-you-go tax. Can still e file 2011 taxes You must pay the tax as you earn or receive income during the year. Can still e file 2011 taxes There are two ways to pay as you go. Can still e file 2011 taxes Withholding. Can still e file 2011 taxes If you are an employee, your employer probably withholds income tax from your pay. Can still e file 2011 taxes In addition, tax may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. Can still e file 2011 taxes The amount withheld is paid to the Internal Revenue Service (IRS) in your name. Can still e file 2011 taxes Estimated tax. Can still e file 2011 taxes If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. Can still e file 2011 taxes People who are in business for themselves generally will have to pay their tax this way. Can still e file 2011 taxes You may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rents, and royalties. Can still e file 2011 taxes Estimated tax is used to pay not only income tax, but other taxes such as self-employment tax and alternative minimum tax. Can still e file 2011 taxes This publication explains both of these methods. Can still e file 2011 taxes It also explains how to take credit on your return for the tax that was withheld and for your estimated tax payments. Can still e file 2011 taxes If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. Can still e file 2011 taxes Generally, the IRS can figure this penalty for you. Can still e file 2011 taxes This underpayment penalty, and the exceptions to it, are discussed in chapter 4. Can still e file 2011 taxes Nonresident aliens. Can still e file 2011 taxes    Before completing Form W-4, nonresident alien employees should see the Instructions for Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual. Can still e file 2011 taxes Also see chapter 8 of Publication 519, U. Can still e file 2011 taxes S. Can still e file 2011 taxes Tax Guide for Aliens, for important information on withholding. Can still e file 2011 taxes What's new for 2013 and 2014. Can still e file 2011 taxes   See What's New for 2014 in this Introduction, and What's New for 2013 in chapter 4. Can still e file 2011 taxes Comments and suggestions. Can still e file 2011 taxes   We welcome your comments about this publication and your suggestions for future editions. Can still e file 2011 taxes   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Can still e file 2011 taxes NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Can still e file 2011 taxes Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Can still e file 2011 taxes   You can send your comments from www. Can still e file 2011 taxes irs. Can still e file 2011 taxes gov/formspubs/. Can still e file 2011 taxes Click on “More Information” and then on Give us feedback on forms and publications. Can still e file 2011 taxes   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Can still e file 2011 taxes Ordering forms and publications. Can still e file 2011 taxes   Visit www. Can still e file 2011 taxes irs. Can still e file 2011 taxes gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 business days after your request is received. Can still e file 2011 taxes Internal Revenue Service 1201 N. Can still e file 2011 taxes Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Can still e file 2011 taxes   If you have a tax question, check the information available on IRS. Can still e file 2011 taxes gov or call 1-800-829-1040. Can still e file 2011 taxes We cannot answer tax questions sent to either of the above addresses. Can still e file 2011 taxes What's New for 2014 Use your 2013 tax return as a guide in figuring your 2014 estimated tax, but be sure to consider the following. Can still e file 2011 taxes Standard mileage rates. Can still e file 2011 taxes  The 2014 rate for business use of your vehicle is 56 cents per mile. Can still e file 2011 taxes The rate for use of your vehicle to get medical care or move is 23½ cents per mile. Can still e file 2011 taxes The rate of 14 cents per mile for charitable use is unchanged. Can still e file 2011 taxes Personal exemption increased for certain taxpayers. Can still e file 2011 taxes  For 2014, the personal exemption amount is increased to $3,950 for taxpayers with adjusted gross income at or below $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, or $152,525 if married filing separately. Can still e file 2011 taxes The personal exemption amount for taxpayers with adjusted gross income above these thresholds may be reduced. Can still e file 2011 taxes Limitation on itemized deductions. Can still e file 2011 taxes  For 2014, itemized deductions for taxpayers with adjusted gross income above $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, and $152,525 if married filing separately may be reduced. Can still e file 2011 taxes Health care coverage. Can still e file 2011 taxes  When you file your 2014 tax return in 2015, you will need to either (1) indicate on your return that you and your family had health care coverage throughout 2014, (2) claim an exemption from the health care coverage requirement for some or all of 2014, or (3) make a payment if you do not have coverage or an exemption(s) for all 12 months of 2014. Can still e file 2011 taxes For examples on how this payment works, go to www. Can still e file 2011 taxes IRS. Can still e file 2011 taxes gov/aca and click under the “Individuals & Families” section. Can still e file 2011 taxes You may want to consider this when figuring your “Other taxes” on Line 12 of the 2014 Estimated Tax Worksheet (Worksheet 2-1). Can still e file 2011 taxes For general information on these requirements, go to www. Can still e file 2011 taxes IRS. Can still e file 2011 taxes gov/aca. Can still e file 2011 taxes Advance payments of the Premium Tax Credit. Can still e file 2011 taxes  If you buy health care insurance through the Health Insurance Marketplace, you may be eligible for advance payments of the Premium Tax Credit to help pay for your insurance coverage. Can still e file 2011 taxes Receiving too little or too much in advance will affect your refund or balance due. Can still e file 2011 taxes Promptly report changes in your income or family size to your Marketplace. Can still e file 2011 taxes You may want to consider this when figuring your estimated taxes for 2014. Can still e file 2011 taxes For more information, go to www. Can still e file 2011 taxes IRS. Can still e file 2011 taxes gov/aca and see Publication 5120 and Publication 5121. Can still e file 2011 taxes http://www. Can still e file 2011 taxes IRS. Can still e file 2011 taxes gov/pub5120 Alternative minimum tax (AMT) exemption amount increased. Can still e file 2011 taxes  The AMT exemption amount is increased to $52,800 ($82,100 if married filing jointly or qualifying widow(er); $41,050 if married filing separately). Can still e file 2011 taxes Lifetime learning credit income limits. Can still e file 2011 taxes  In order to claim a lifetime learning credit, your MAGI must be less than $54,000 ($108,000 if married filing jointly). Can still e file 2011 taxes Retirement savings contribution credit income limits increased. Can still e file 2011 taxes  In order to claim this credit for 2014, your MAGI must be less than $30,000 ($60,000 if married filing jointly; $45,000 if head of household). Can still e file 2011 taxes Adoption credit or exclusion. Can still e file 2011 taxes  The maximum adoption credit or exclusion for employer-provided adoption benefits has increased to $13,190. Can still e file 2011 taxes In order to claim either the credit or exclusion, your MAGI must be less than $237,880. Can still e file 2011 taxes Earned income credit (EIC). Can still e file 2011 taxes  You may be able to take the EIC in 2014 if: Three or more children lived with you and you earned less than $46,997 ($52,427 if married filing jointly), Two children lived with you and you earned less than $43,756 ($49,186 if married filing jointly), One child lived with you and you earned less than $38,511 ($43,941 if married filing jointly), or A child did not live with you and you earned less than $14,590 ($20,020 if married filing jointly). Can still e file 2011 taxes Also, the maximum MAGI you can have and still get the credit has increased. Can still e file 2011 taxes You may be able to take the credit if your MAGI is less than the amount in the above list that applies to you. Can still e file 2011 taxes The maximum investment income you can have and get the credit has increased to $3,350. Can still e file 2011 taxes Reminders Future developments. Can still e file 2011 taxes  The IRS has created a page on IRS. Can still e file 2011 taxes gov for information about Publication 505 at www. Can still e file 2011 taxes irs. Can still e file 2011 taxes gov/pub505. Can still e file 2011 taxes Information about any future developments affecting Publication 505 (such as legislation enacted after we release it) will be posted on that page. Can still e file 2011 taxes Social security tax. Can still e file 2011 taxes   Generally, each employer for whom you work during the tax year must withhold social security tax up to the annual limit. Can still e file 2011 taxes The annual limit is $117,000 in 2014. Can still e file 2011 taxes Photographs of missing children. Can still e file 2011 taxes  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Can still e file 2011 taxes Photographs of missing children selected by the Center may appear in this publication on pages that otherwise would be blank. Can still e file 2011 taxes You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Can still e file 2011 taxes Additional Medicare Tax. Can still e file 2011 taxes  Beginning in 2013, a 0. Can still e file 2011 taxes 9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act compensation, and self-employment income over a threshold amount based on your filing status. Can still e file 2011 taxes You may need to include this amount when figuring your estimated tax. Can still e file 2011 taxes See the instructions for line 12 of the 2014 Estimated Tax Worksheet. Can still e file 2011 taxes You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4, Employee's Withholding Allowance Certificate. Can still e file 2011 taxes For more information on Additional Medicare Tax, go to IRS. Can still e file 2011 taxes gov and enter “Additional Medicare Tax” in the search box. Can still e file 2011 taxes Net Investment Income Tax. Can still e file 2011 taxes  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). Can still e file 2011 taxes NIIT is a 3. Can still e file 2011 taxes 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income (MAGI) over the threshold amount. Can still e file 2011 taxes NIIT may need to be included when figuring estimated tax. Can still e file 2011 taxes See the instructions for line 12 of the 2014 Estimated Tax Worksheet. Can still e file 2011 taxes You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4. Can still e file 2011 taxes For more information on NIIT, go to IRS. Can still e file 2011 taxes gov and enter “Net Investment Income Tax” in the search box. Can still e file 2011 taxes Prev  Up  Next   Home   More Online Publications
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Page Last Reviewed or Updated: 26-Mar-2014

The Can Still E File 2011 Taxes

Can still e file 2011 taxes 19. Can still e file 2011 taxes   Education- Related Adjustments Table of Contents Introduction Useful Items - You may want to see: Student Loan Interest DeductionStudent Loan Interest Defined Can You Claim the Deduction How Much Can You Deduct How Do You Figure the Deduction Tuition and Fees DeductionCan You Claim the Deduction What Expenses Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses How Much Can You Deduct Educator Expenses Introduction This chapter discusses the education-related adjustment you can deduct in figuring your adjusted gross income. Can still e file 2011 taxes This chapter covers the student loan interest deduction, tuition and fees deduction, and the deduction for educator expenses. Can still e file 2011 taxes Useful Items - You may want to see: Publication 970 Tax Benefits for Education Student Loan Interest Deduction Generally, personal interest you pay, other than certain mortgage interest, is not deductible on your tax return. Can still e file 2011 taxes However, if your modified adjusted gross income (MAGI) is less than $75,000 ($155,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education. Can still e file 2011 taxes For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return before subtracting any deduction for student loan interest. Can still e file 2011 taxes This deduction can reduce the amount of your income subject to tax by up to $2,500 in 2013. Can still e file 2011 taxes Table 19-1 summarizes the features of the student loan interest deduction. Can still e file 2011 taxes Table 19-1. Can still e file 2011 taxes Student Loan Interest Deduction at a Glance Do not rely on this table alone. Can still e file 2011 taxes Refer to the text for more details. Can still e file 2011 taxes Feature Description Maximum benefit You can reduce your income subject to tax by up to $2,500. Can still e file 2011 taxes Loan qualifications Your student loan: •  must have been taken out solely to pay qualified education expenses, and   • cannot be from a related person or made under a qualified employer plan. Can still e file 2011 taxes Student qualifications The student must be: • you, your spouse, or your dependent, and   • enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an eligible educational institution. Can still e file 2011 taxes Time limit on deduction You can deduct interest paid during the remaining period of your student loan. Can still e file 2011 taxes Phaseout The amount of your deduction depends on your income level. Can still e file 2011 taxes Student Loan Interest Defined Student loan interest is interest you paid during the year on a qualified student loan. Can still e file 2011 taxes It includes both required and voluntary interest payments. Can still e file 2011 taxes Qualified Student Loan This is a loan you took out solely to pay qualified education expenses (defined later) that were: For you, your spouse, or a person who was your dependent (defined in chapter 3) when you took out the loan, Paid or incurred within a reasonable period of time before or after you took out the loan, and For education provided during an academic period when the student is an eligible student. Can still e file 2011 taxes Loans from the following sources are not qualified student loans. Can still e file 2011 taxes A related person. Can still e file 2011 taxes A qualified employer plan. Can still e file 2011 taxes Exceptions. Can still e file 2011 taxes   For purposes of the student loan interest deduction, the following are exceptions to the general rules for dependents. Can still e file 2011 taxes An individual can be your dependent even if you are the dependent of another taxpayer. Can still e file 2011 taxes An individual can be your dependent even if the individual files a joint return with a spouse. Can still e file 2011 taxes An individual can be your dependent even if the individual had gross income for the year that was equal to or more than the exemption amount for the year ($3,900 for 2013). Can still e file 2011 taxes    Reasonable period of time. Can still e file 2011 taxes   Qualified education expenses are treated as paid or incurred within a reasonable period of time before or after you take out the loan if they are paid with the proceeds of student loans that are part of a federal postsecondary education loan program. Can still e file 2011 taxes   Even if not paid with the proceeds of that type of loan, the expenses are treated as paid or incurred within a reasonable period of time if both of the following requirements are met. Can still e file 2011 taxes The expenses relate to a specific academic period. Can still e file 2011 taxes The loan proceeds are disbursed within a period that begins 90 days before the start of that academic period and ends 90 days after the end of that academic period. Can still e file 2011 taxes   If neither of the above situations applies, the reasonable period of time is determined based on all the relevant facts and circumstances. Can still e file 2011 taxes Academic period. Can still e file 2011 taxes   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Can still e file 2011 taxes In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Can still e file 2011 taxes Eligible student. Can still e file 2011 taxes   This is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. Can still e file 2011 taxes Enrolled at least half-time. Can still e file 2011 taxes   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. Can still e file 2011 taxes   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Can still e file 2011 taxes However, the standard may not be lower than any of those established by the U. Can still e file 2011 taxes S. Can still e file 2011 taxes Department of Education under the Higher Education Act of 1965. Can still e file 2011 taxes Related person. Can still e file 2011 taxes   You cannot deduct interest on a loan you get from a related person. Can still e file 2011 taxes Related persons include: Your spouse, Your brothers and sisters, Your half brothers and half sisters, Your ancestors (parents, grandparents, etc. Can still e file 2011 taxes ), Your lineal descendants (children, grandchildren, etc. Can still e file 2011 taxes ), and Certain corporations, partnerships, trusts, and exempt organizations. Can still e file 2011 taxes Qualified employer plan. Can still e file 2011 taxes   You cannot deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. Can still e file 2011 taxes Qualified Education Expenses For purposes of the student loan interest deduction, these expenses are the total costs of attending an eligible educational institution, including graduate school. Can still e file 2011 taxes They include amounts paid for the following items. Can still e file 2011 taxes Tuition and fees. Can still e file 2011 taxes Room and board. Can still e file 2011 taxes Books, supplies, and equipment. Can still e file 2011 taxes Other necessary expenses (such as transportation). Can still e file 2011 taxes The cost of room and board qualifies only to the extent that it is not more than: The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student, or If greater, the actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Can still e file 2011 taxes Eligible educational institution. Can still e file 2011 taxes   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Can still e file 2011 taxes S. Can still e file 2011 taxes Department of Education. Can still e file 2011 taxes It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Can still e file 2011 taxes   Certain educational institutions located outside the United States also participate in the U. Can still e file 2011 taxes S. Can still e file 2011 taxes Department of Education's Federal Student Aid (FSA) programs. Can still e file 2011 taxes   For purposes of the student loan interest deduction, an eligible educational institution also includes an institution conducting an internship or residency program leading to a degree or certificate from an institution of higher education, a hospital, or a health care facility that offers postgraduate training. Can still e file 2011 taxes   An educational institution must meet the above criteria only during the academic period(s) for which the student loan was incurred. Can still e file 2011 taxes The deductibility of interest on the loan is not affected by the institution's subsequent loss of eligibility. Can still e file 2011 taxes    The educational institution should be able to tell you if it is an eligible educational institution. Can still e file 2011 taxes Adjustments to qualified education expenses. Can still e file 2011 taxes   You must reduce your qualified education expenses by certain tax-free items (such as the tax-free part of scholarships and fellowships). Can still e file 2011 taxes See chapter 4 of Publication 970 for details. Can still e file 2011 taxes Include as Interest In addition to simple interest on the loan, certain loan origination fees, capitalized interest, interest on revolving lines of credit, and interest on refinanced student loans can be student loan interest if all other requirements are met. Can still e file 2011 taxes Loan origination fee. Can still e file 2011 taxes   In general, this is a one-time fee charged by the lender when a loan is made. Can still e file 2011 taxes To be deductible as interest, the fee must be for the use of money rather than for property or services (such as commitment fees or processing costs) provided by the lender. Can still e file 2011 taxes A loan origination fee treated as interest accrues over the life of the loan. Can still e file 2011 taxes Capitalized interest. Can still e file 2011 taxes    This is unpaid interest on a student loan that is added by the lender to the outstanding principal balance of the loan. Can still e file 2011 taxes Interest on revolving lines of credit. Can still e file 2011 taxes   This interest, which includes interest on credit card debt, is student loan interest if the borrower uses the line of credit (credit card) only to pay qualified education expenses. Can still e file 2011 taxes See Qualified Education Expenses , earlier. Can still e file 2011 taxes Interest on refinanced student loans. Can still e file 2011 taxes   This includes interest on both: Consolidated loans—loans used to refinance more than one student loan of the same borrower, and Collapsed loans—two or more loans of the same borrower that are treated by both the lender and the borrower as one loan. Can still e file 2011 taxes If you refinance a qualified student loan for more than your original loan and you use the additional amount for any purpose other than qualified education expenses, you cannot deduct any interest paid on the refinanced loan. Can still e file 2011 taxes Voluntary interest payments. Can still e file 2011 taxes   These are payments made on a qualified student loan during a period when interest payments are not required, such as when the borrower has been granted a deferment or the loan has not yet entered repayment status. Can still e file 2011 taxes Do Not Include as Interest You cannot claim a student loan interest deduction for any of the following items. Can still e file 2011 taxes Interest you paid on a loan if, under the terms of the loan, you are not legally obligated to make interest payments. Can still e file 2011 taxes Loan origination fees that are payments for property or services provided by the lender, such as commitment fees or processing costs. Can still e file 2011 taxes Interest you paid on a loan to the extent payments were made through your participation in the National Health Service Corps Loan Repayment Program (the “NHSC Loan Repayment Program”) or certain other loan repayment assistance programs. Can still e file 2011 taxes For more information, see Student Loan Repayment Assistance in chapter 5 of Publication 970. Can still e file 2011 taxes Can You Claim the Deduction Generally, you can claim the deduction if all of the following requirements are met. Can still e file 2011 taxes Your filing status is any filing status except married filing separately. Can still e file 2011 taxes No one else is claiming an exemption for you on his or her tax return. Can still e file 2011 taxes You are legally obligated to pay interest on a qualified student loan. Can still e file 2011 taxes You paid interest on a qualified student loan. Can still e file 2011 taxes Interest paid by others. Can still e file 2011 taxes   If you are the person legally obligated to make interest payments and someone else makes a payment of interest on your behalf, you are treated as receiving the payments from the other person and, in turn, paying the interest. Can still e file 2011 taxes See chapter 4 of Publication 970 for more information. Can still e file 2011 taxes No Double Benefit Allowed You cannot deduct as interest on a student loan any amount that is an allowable deduction under any other provision of the tax law (for example, home mortgage interest). Can still e file 2011 taxes How Much Can You Deduct Your student loan interest deduction for 2013 is generally the smaller of: $2,500, or The interest you paid in 2013. Can still e file 2011 taxes However, the amount determined above is phased out (gradually reduced) if your MAGI is between $60,000 and $75,000 ($125,000 and $155,000 if you file a joint return). Can still e file 2011 taxes You cannot take a student loan interest deduction if your MAGI is $75,000 or more ($155,000 or more if you file a joint return). Can still e file 2011 taxes For details on figuring your MAGI, see chapter 4 of Publication 970. Can still e file 2011 taxes How Do You Figure the Deduction Generally, you figure the deduction using the Student Loan Interest Deduction Worksheet in the Form 1040 or Form 1040A instructions. Can still e file 2011 taxes However, if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico, you must complete Worksheet 4-1 in chapter 4 of Publication 970. Can still e file 2011 taxes To help you figure your student loan interest deduction, you should receive Form 1098-E, Student Loan Interest Statement. Can still e file 2011 taxes Generally, an institution (such as a bank or governmental agency) that received interest payments of $600 or more during 2013 on one or more qualified student loans must send Form 1098-E (or acceptable substitute) to each borrower by January 31, 2014. Can still e file 2011 taxes For qualified student loans taken out before September 1, 2004, the institution is required to include on Form 1098-E only payments of stated interest. Can still e file 2011 taxes Other interest payments, such as certain loan origination fees and capitalized interest, may not appear on the form you receive. Can still e file 2011 taxes However, if you pay qualifying interest that is not included on Form 1098-E, you can also deduct those amounts. Can still e file 2011 taxes For information on allocating payments between interest and principal, see chapter 4 of Publication 970. Can still e file 2011 taxes To claim the deduction, enter the allowable amount on Form 1040, line 33, or Form 1040A, line 18. Can still e file 2011 taxes Tuition and Fees Deduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). Can still e file 2011 taxes You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. Can still e file 2011 taxes The qualified expenses must be for higher education, as explained later under What Expenses Qualify . Can still e file 2011 taxes The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. Can still e file 2011 taxes Table 19-2 summarizes the features of the tuition and fees deduction. Can still e file 2011 taxes You may be able to take a credit for your education expenses instead of a deduction. Can still e file 2011 taxes You can choose the one that will give you the lower tax. Can still e file 2011 taxes See chapter 35, Education Credits, for details about the credits. Can still e file 2011 taxes Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. Can still e file 2011 taxes Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. Can still e file 2011 taxes You paid qualified education expenses of higher education in 2013 for academic periods beginning in 2013 and those beginning in the first three months of 2014. Can still e file 2011 taxes You paid the education expenses for an eligible student. Can still e file 2011 taxes The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption (defined in chapter 3) on your tax return. Can still e file 2011 taxes Qualified education expenses are defined under What Expenses Qualify . Can still e file 2011 taxes Eligible students are defined later under Who Is an Eligible Student . Can still e file 2011 taxes Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. Can still e file 2011 taxes Your filing status is married filing separately. Can still e file 2011 taxes Another person can claim an exemption for you as a dependent on his or her tax return. Can still e file 2011 taxes You cannot take the deduction even if the other person does not actually claim that exemption. Can still e file 2011 taxes Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). Can still e file 2011 taxes You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Can still e file 2011 taxes More information on nonresident aliens can be found in Publication 519, U. Can still e file 2011 taxes S. Can still e file 2011 taxes Tax Guide for Aliens. Can still e file 2011 taxes You or anyone else claims an American opportunity or lifetime learning credit in 2013 with respect to expenses of the student for whom the qualified education expenses were paid. Can still e file 2011 taxes However, a state tax credit will not disqualify you from claiming a tuition and fees deduction. Can still e file 2011 taxes Table 19-2. Can still e file 2011 taxes Tuition and Fees Deduction at a Glance Do not rely on this table alone. Can still e file 2011 taxes Refer to the text for more details. Can still e file 2011 taxes Question   Answer What is the maximum benefit?   You can reduce your income subject to tax by up to $4,000. Can still e file 2011 taxes Where is the deduction taken?   As an adjustment to income on Form 1040, line 34, or Form 1040A, line 19. Can still e file 2011 taxes For whom must the expenses be paid?   A student enrolled in an eligible educational institution who is either: you, your spouse, or your dependent for whom you claim an exemption. Can still e file 2011 taxes What tuition and fees are deductible?   Tuition and fees required for enrollment or attendance at an eligible postsecondary educational institution, but not including personal, living, or family expenses, such as room and board. Can still e file 2011 taxes What Expenses Qualify The tuition and fees deduction is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Can still e file 2011 taxes Generally, the deduction is allowed for qualified education expenses paid in 2013 in connection with enrollment at an institution of higher education during 2013 or for an academic period (defined earlier under Student Loan Interest Deduction ) beginning in 2013 or in the first 3 months of 2014. Can still e file 2011 taxes Payments with borrowed funds. Can still e file 2011 taxes   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. Can still e file 2011 taxes Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. Can still e file 2011 taxes Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Can still e file 2011 taxes Student withdraws from class(es). Can still e file 2011 taxes   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. Can still e file 2011 taxes Qualified Education Expenses For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Can still e file 2011 taxes Eligible educational institution. Can still e file 2011 taxes   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Can still e file 2011 taxes S. Can still e file 2011 taxes Department of Education. Can still e file 2011 taxes It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Can still e file 2011 taxes The educational institution should be able to tell you if it is an eligible educational institution. Can still e file 2011 taxes   Certain educational institutions located outside the United States also participate in the U. Can still e file 2011 taxes S. Can still e file 2011 taxes Department of Education's Federal Student Aid (FSA) programs. Can still e file 2011 taxes Academic period. Can still e file 2011 taxes    An academic period is any quarter, semester, trimester, or any other period of study as reasonably determined by an eligible educational institution. Can still e file 2011 taxes If an eligible educational institution uses credit hours and does not have academic terms, each payment period may be treated as an academic period. Can still e file 2011 taxes Related expenses. Can still e file 2011 taxes   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses for the tuition and fees deduction only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Can still e file 2011 taxes Prepaid expenses. Can still e file 2011 taxes   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring the tuition and fees deduction. Can still e file 2011 taxes See Academic period, earlier. Can still e file 2011 taxes For example, if you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring the tuition and fees deduction for 2013 only if you meet all the other requirements. Can still e file 2011 taxes    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 tuition and fees deduction. Can still e file 2011 taxes No Double Benefit Allowed You cannot do any of the following. Can still e file 2011 taxes Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. Can still e file 2011 taxes Deduct qualified education expenses for a student on your income tax return if you or anyone else claims an American opportunity or lifetime learning credit for that same student in the same year. Can still e file 2011 taxes Deduct qualified education expenses that have been used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). Can still e file 2011 taxes For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Can still e file 2011 taxes See Figuring the Taxable Portion of a Distribution in chapter 7 (Coverdell ESA) and chapter 8 (QTP) of Publication 970. Can still e file 2011 taxes Deduct qualified education expenses that have been paid with tax-free interest on U. Can still e file 2011 taxes S. Can still e file 2011 taxes savings bonds (Form 8815). Can still e file 2011 taxes See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Can still e file 2011 taxes Deduct qualified education expenses that have been paid with tax-free educational assistance such as a scholarship, grant, or employer-provided educational assistance. Can still e file 2011 taxes See Adjustments to qualified education expenses, later. Can still e file 2011 taxes Adjustments to qualified education expenses. Can still e file 2011 taxes   For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Can still e file 2011 taxes The result is the amount of adjusted qualified education expenses for each student. Can still e file 2011 taxes Tax-free educational assistance. Can still e file 2011 taxes   For tax-free educational assistance you received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance to that academic period. Can still e file 2011 taxes See Academic period, earlier. Can still e file 2011 taxes   This includes: The tax-free part of scholarships and fellowships, including Pell grants (see chapter 1 of Publication 970), The tax-free part of any employer-provided educational assistance (see chapter 11 of Publication 970), Veterans' educational assistance (see chapter 1 of Publication 970), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Can still e file 2011 taxes Generally, any scholarship or fellowship you receive is treated as tax-free educational assistance. Can still e file 2011 taxes However, a scholarship or fellowship is not treated as tax-free educational assistance to the extent you include it in gross income (if you are required to file a tax return) for the year the scholarship or fellowship is received and either: The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Can still e file 2011 taxes 970, chapter 1. Can still e file 2011 taxes The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Can still e file 2011 taxes 970, chapter 1. Can still e file 2011 taxes You may be able to increase the combined value of your tuition and fees deduction and certain educational assistance if you include some or all of the educational assistance in income in the year it is received. Can still e file 2011 taxes For details, see Adjustments to Qualified Education Expenses in chapter 6 of Pub. Can still e file 2011 taxes 970. Can still e file 2011 taxes Some tax-free educational assistance received in 2013 may be treated as a refund of qualified education expenses paid in 2013. Can still e file 2011 taxes This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Can still e file 2011 taxes If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. Can still e file 2011 taxes If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. Can still e file 2011 taxes Refunds. Can still e file 2011 taxes   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or may require you to include some or all of the refund in your gross income for the year the refund is received. Can still e file 2011 taxes See chapter 6 of Pub. Can still e file 2011 taxes 970 for more information. Can still e file 2011 taxes Some tax-free educational assistance received after 2013 may be treated as a refund. Can still e file 2011 taxes See Tax-free educational assistance, earlier. Can still e file 2011 taxes Refunds received in 2013. Can still e file 2011 taxes    For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses paid in 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Can still e file 2011 taxes Refunds received after 2013 but before your income tax return is filed. Can still e file 2011 taxes   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received before you file your 2013 income tax return, reduce the amount of qualified education expenses for 2013 by the amount of the refund. Can still e file 2011 taxes Refunds received after 2013 and after your income tax return is filed. Can still e file 2011 taxes   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received after you file your 2013 income tax return, you may need to include some or all of the refund in your gross income for the year the refund is received. Can still e file 2011 taxes See chapter 6 of Pub. Can still e file 2011 taxes 970 for more information. Can still e file 2011 taxes Coordination with Coverdell education savings accounts and qualified tuition programs. Can still e file 2011 taxes    Reduce your qualified education expenses by any qualified education expenses used to figure the exclusion from gross income of (a) interest received under an education savings bond program, or (b) any distribution from a Coverdell education savings account or qualified tuition program (QTP). Can still e file 2011 taxes For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Can still e file 2011 taxes Amounts that do not reduce qualified education expenses. Can still e file 2011 taxes   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Can still e file 2011 taxes   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Can still e file 2011 taxes The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses. Can still e file 2011 taxes The use of the money is not restricted. Can still e file 2011 taxes Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Can still e file 2011 taxes This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Can still e file 2011 taxes Sports, games, hobbies, and noncredit courses. Can still e file 2011 taxes   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Can still e file 2011 taxes However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Can still e file 2011 taxes Comprehensive or bundled fees. Can still e file 2011 taxes   Some eligible educational institutions combine all of their fees for an academic period into one amount. Can still e file 2011 taxes If you do not receive, or do not have access to, an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. Can still e file 2011 taxes The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T, Tuition Statement. Can still e file 2011 taxes See How Do You Figure the Deduction , later, for more information about Form 1098-T. Can still e file 2011 taxes Who Is an Eligible Student For purposes of the tuition and fees deduction, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (defined earlier). Can still e file 2011 taxes Who Can Claim a Dependent's Expenses Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. Can still e file 2011 taxes Table 19-3 summarizes who can claim the deduction. Can still e file 2011 taxes How Much Can You Deduct The maximum tuition and fees deduction in 2013 is $4,000, $2,000, or $0, depending on the amount of your MAGI. Can still e file 2011 taxes For details on figuring your MAGI, see chapter 6 of Publication 970. Can still e file 2011 taxes How Do You Figure the Deduction Figure the deduction using Form 8917. Can still e file 2011 taxes To help you figure your tuition and fees deduction, you should receive Form 1098-T, Tuition Statement. Can still e file 2011 taxes Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Can still e file 2011 taxes To claim the deduction, enter the allowable amount on Form 1040, line 34, or Form 1040A, line 19, and attach your completed Form 8917. Can still e file 2011 taxes Table 19-3. Can still e file 2011 taxes Who Can Claim a Dependent's Expenses Do not rely on this table alone. Can still e file 2011 taxes See Who Can Claim a Dependent's Expenses in chapter 6 of Publication 970. Can still e file 2011 taxes IF your dependent is an eligible student and you. Can still e file 2011 taxes . Can still e file 2011 taxes . Can still e file 2011 taxes AND. Can still e file 2011 taxes . Can still e file 2011 taxes . Can still e file 2011 taxes THEN. Can still e file 2011 taxes . Can still e file 2011 taxes . Can still e file 2011 taxes claim an exemption for your dependent you paid all qualified education expenses for your dependent only you can deduct the qualified education expenses that you paid. Can still e file 2011 taxes Your dependent cannot take a deduction. Can still e file 2011 taxes claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Can still e file 2011 taxes do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. Can still e file 2011 taxes do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Can still e file 2011 taxes Educator Expenses If you were an eligible educator in 2013, you can deduct on Form 1040, line 23, or Form 1040A, line 16, up to $250 of qualified expenses you paid in 2013. Can still e file 2011 taxes If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. Can still e file 2011 taxes However, neither spouse can deduct more than $250 of his or her qualified expenses on Form 1040, line 23, or Form 1040A, line 16. Can still e file 2011 taxes You may be able to deduct expenses that are more than the $250 (or $500) limit on Schedule A (Form 1040), line 21. Can still e file 2011 taxes Eligible educator. Can still e file 2011 taxes   An eligible educator is a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide who worked in a school for at least 900 hours during a school year. Can still e file 2011 taxes Qualified expenses. Can still e file 2011 taxes   Qualified expenses include ordinary and necessary expenses paid in connection with books, supplies, equipment (including computer equipment, software, and services), and other materials used in the classroom. Can still e file 2011 taxes An ordinary expense is one that is common and accepted in your educational field. Can still e file 2011 taxes A necessary expense is one that is helpful and appropriate for your profession as an educator. Can still e file 2011 taxes An expense does not have to be required to be considered necessary. Can still e file 2011 taxes   Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education. Can still e file 2011 taxes   You must reduce your qualified expenses by the following amounts. Can still e file 2011 taxes Excludable U. Can still e file 2011 taxes S. Can still e file 2011 taxes series EE and I savings bond interest from Form 8815. Can still e file 2011 taxes See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Can still e file 2011 taxes Nontaxable qualified tuition program earnings or distributions. Can still e file 2011 taxes See Figuring the Taxable Portion of a Distribution in chapter 8 of Publication 970. Can still e file 2011 taxes Nontaxable distribution of earnings from a Coverdell education savings account. Can still e file 2011 taxes See Figuring the Taxable Portion of a Distribution in chapter 7 of Publication 970. Can still e file 2011 taxes Any reimbursements you received for these expenses that were not reported to you in box 1 of your Form W-2. Can still e file 2011 taxes Prev  Up  Next   Home   More Online Publications